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Bac Giang, RoK’s Chungcheongnam province sign cooperation agreement

BAC GIANG - A delegation from the Republic of Korea (RoK)’s Chungcheongnam province held talks and signed a cooperation agreement with authorities of the northern province of Bac Giang on December 5 in Bac Giang city.

On behalf of the provincial leader, Chairman of the Bac Giang provincial People's Committee (PPC) Le Anh Duong warmly welcomed the working delegation led by Governor of Chungcheongnam province Kim Tae-heum to ink the agreement in 2023 – 2030 period.

Bac Giang province, RoK, Chungcheongnam province, sign cooperation agreement, bilateral relation, RoK investor, industrial sectors, export-import turnover

The leaders of two provinces hold talk.

Also, he informed that in last September, Bac Giang province dispatched a working delegation to Chungcheongnam province and received warm welcome from the host. Previously, several businesses from the Chungcheongnam province invested in Bac Giang, acting as the bridge for bilateral relation between two provinces.

The Bac Giang provincial leader pressed on local high effort to effectively implement solutions to boost the tie with RoK. So far, Bac Giang has attracted 361 RoK invested projects with total registered capital of over 2.6 billion USD. The RoK now ranks first in terms of the number of projects and second in investment capital among 30 countries and territories investing in Bac Giang.

In particular, Bac Giang has the Vietnam-Korea Vocational College of Technology, which effectively contributes to the goal of developing a skilled workforce that meet the requirements of the local industrial sectors and Korean businesses in Vietnam.

Bac Giang province, RoK, Chungcheongnam province, sign cooperation agreement, bilateral relation, RoK investor, industrial sectors, export-import turnover

PPC Chairman Le Anh Duong and Governor of Chungcheongnam province Kim Tae-heum inks the cooperation agreement.

At present, Bac Giang has 1,750 workers employed in the RoK, and nearly 1,200 Korean workers are working in the province. Cultural and economic exchanges between Bac Giang and the RoK are increasingly expanding.

The RoK is the second largest export-import market of Bac Giang, with bilateral trade turnover totaling 13.3 billion USD last year, up 46.2% annually. In the first 11 months of this year, the figure reached around 14.8 billion USD, or 31.2% of the province's total export-import turnover.

Bac Giang exported various goods to the RoK, including apparel, leather and footwear, computers, electronic products and components, phones and accessories, processed and fresh farm produce. It imported raw materials and accessories for apparel, leather and footwear, computers, electronic products and components, phones and accessories, machinery and equipment, processed and fresh farm produce from the RoK. The import turnover from the RoK accounted for 35.5% of the province's total.

PPC Chairman Le Anh Duong expressed his delight at the cooperative relationship between Chungcheongnam province and Bac Giang province and considered this visit as a beginning with historical significance.

Bac Giang province, RoK, Chungcheongnam province, sign cooperation agreement, bilateral relation, RoK investor, industrial sectors, export-import turnover

PPC Chairman Le Anh Duong, Governor of Chungcheongnam province Kim Tae-heum and delegates at the ceremonies.

Governor of Chungcheongnam province Kim Tae-heum expressed his hope that diplomatic ties between the two localities will be further strengthened both in depth and width. The two localities are key economic growth areas of the two countries. Hopefully this will be a model for Vietnam and Korea in terms of local cooperation.

After the talks, the two sides signed a cooperation agreement on the regular exchange of delegations to share managerial experience, cultural exchanges to raise understanding of each other's history and culture, economic cooperation in industrial and agricultural development, and collaboration in the fields of health care, education, training, high-quality human resources and labour exchange, among others.

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Bac Giang province, RoK, Chungcheongnam province, sign cooperation agreement, bilateral relation, RoK investor, industrial sectors, export-import turnover
 
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